StepStone ASA (“StepStone”), a leading global provider of total talent solutions , today announced that it has appointed Panmure Gordon (UK) Limited (“Panmure Gordon”) to act in connection with the secondary listing of the Company’s shares on the Official List of the London Stock Exchange.
“StepStone is attracting the interest of many of the world’s leading blue chip companies as they increasingly see the strategic importance of attracting, managing and developing robust and scalable talent management solutions,” Colin Tenwick, CEO of StepStone, said. “Our continued success in defining what we believe to be the third wave of enterprise solutions is demonstrated by the rapid growth in revenues, up from €19m in 2004 to €98m in 2007, our increasing profitability and evident ability to generate increasing amounts of operating cash flow.
“Our business is increasingly becoming global as we meet the demands of customers and work with them to deploy StepStone solutions from our operations across Europe the US, to India, Singapore, China and Australia,” he said.
“Over the last few years StepStone has attracted an international shareholder base. Eighty per cent of our shareholders are outside of Norway with the majority registered in London and New York. Admission to the Official List of the London Stock Exchange will improve access and visibility to our shares and widen StepStone’s ability to continue growing.
“We look forward to working with the Panmure Gordon team in the UK and the ThinkPanmure team in the US.”
StepStone demonstrated strong results for the quarter ended 31 March 2008. Revenue increased 39 per cent to €29.8m from €21.4m in Q1 2007 and underlying organic revenue growth was 37 per cent. Profitability also increased with EBITDA reaching a new record of €5.7m and EBITDA margin increasing to 19 per cent. This compares to €3.3m and 15 per cent a year ago.
Demand for StepStone products and services continued to grow, evidenced by both revenues increasing 39 per cent and deferred revenues increasing 51 per cent.
Contacts:
StepStone
Ian Clapp, Director of Investor Relations
Tel: + 44 7850 128094
Ian Cole, CFO
Tel: +44 7808 946404
Panmure Gordon (UK) Limited
Richard Gray, Head of Investment Banking
Aubrey Powell, Director, Investment Banking
Tel: +44 (0) 7459 3600
Brands2Life
Tony Smith / Robin Grainger
Tel: +44 (0) 207 592 1200
Email: stepstone@brands2life.com